Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market pulled out a positive day after six straight negatives, albeit a slight one. We need to see bond market settle before the market feels completely confident to jump in and buy equities. Even though value has definitely returned to the market, the sentiment remains negative with global macro uncertainties and local economy in decline. The key risk remains the bond market selloff raising bond yields. RBA came out today and confirmed that the property market in Sydney is “CRAZY” and the easing bias is back on. There is one thing common in all the currency forecasts….the domestic economy is going to get smacked and it’s definitely man made…yes that’s right, it was created by the government’s direct action policy towards manufacturing that will deliver historical high unemployment in the next 12mths. Banks finally stayed positive while Aussie gold miners are getting interest as spot gold holding up around US$1180 with AUDUSD expected to fall. (VIEW LINK)


Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment